60 slides from Canadian Imperial Bank Of Commerce's earnings presentation, Aug 27, 2026
Slide 1: Quarterly Results Presentation
Quarterly Results Presentation Third Quarter 2026 August 27, 2026 All amounts are in Canadian dollars unless otherwise indicated. Third Quarter 2026 | 0
Slide 2: Forward-Looking Statements
Forward-Looking Statements A NOTE ABOUT FORWARD-LOOKING STATEMENTS: From time to time, we make written or oral forward-looking statements within the meaning of certain securities laws, including in this presentation, in other filings with Canadian securities regulators or the SEC and in other commun
Slide 3: CIBC Overview
CIBC Overview Harry Culham President & Chief Executive Officer
Slide 4: Q3/26 Overview
Q3/26 Overview Delivering growth through focused execution Broad-Based Revenue Growth FI NAN CIAL RE SU LTS Net Interest Income Adjusted Non-Interest Trading Cdn. Personal & Revenue8 ($B) Corp. & ex. Trading ($B) Income ex. Trading1 ($B) Diluted EPS ROE3 Other Business Bkg. +9% YoY +14% +13% +40% 15
Slide 5: Strategic Priorities
Strategic Priorities Continued progress in Q3/26 Grow Our Mass Affluent & Private Wealth Franchise Continued progress RECO G NIZED Ranking among Big 6 INDUST RY LEAD E RS HI P with our mass affluent clients with YoY growth in number of clients1 +4% YoY growth in money-in balances2 +12% banks3 in ret
Slide 6: Driving Sustainable Growth and Value for Our Stakeholders
Driving Sustainable Growth and Value for Our Stakeholders Results highlight Disciplined Strong balance sheet continued broad- execution and deep and capital strength based momentum connectivity across provide strategic and sustainable the franchise remain flexibility and support performance differen
Slide 7: Financial Overview
Financial Overview Robert Sedran Senior Executive Vice-President, Chief Financial Officer and Enterprise Strategy
Slide 8: Q3/26 Results Summary
Q3/26 Results Summary Diluted EPS Return on Equity Revenue Operating Leverage1 and Efficiency Ratio Reported $2.47 Reported 15.2% $8.4B +15% YoY Reported (2.5)% | 56.0% Adjusted2 $2.73 Adjusted2 16.8% Reported & Adjusted2 Adjusted2 4.2% | 52.7% +15% / +26% YoY +100 bps / +260 bps YoY PPPT3 PCL R
Slide 9: Financial Overview
Financial Overview Delivered broad-based growth and positive operating leverage Reported1 ($MM) Q3/26 YoY QoQ Q3/26 YoY Highlights: Revenue 8,368 15% 5% Revenue Non-Trading Net Interest Income 4,886 14% 7% • Revenue growth of 15% driven by margin expansion, volume growth, higher Non-Trading Non-Inte
Slide 10: Net Interest Income (NII)
Net Interest Income (NII) NII (ex-trading) grew 14% YoY, reflecting margin expansion and volume growth Total Bank Net Interest Income Canadian Personal & Commercial5 ($MM) Q3/26 YoY QoQ NIM3,4 +3 bps Avg. Balances NII 4,507 +11% +4% Q3/26 2 bps 0 bps 1 bps 3.04% 3.01% NII (ex. Trading) 4,886 +14% +7
Slide 11: Non-Interest Income
Non-Interest Income Market activity fuels fee income growth Non-Interest Income (Adjusted1, $MM)4 Growth by Category Market-Related Fees5 ($B) Other +20% +63% +25% +5% YoY 3,863 3.1 21 2.8 2.9 Invst. 2.5 Mgmt. & Trading 2.3 357 Custodial $2.9B +44% +19% YoY YoY +25% YoY 44 3,206 235 Mutual UW Fund &
Slide 12: Non-Interest Expenses
Non-Interest Expenses Positive operating leverage supports efficiency improvement Q3/26 YoY Expense Growth Drivers (Adjusted1, $MM) Operating Leverage (Adjusted1) 4.3% 4.2% 4.0% +11% 3.6% +8% 242 4,264 144 4,408 1.7% 3,965 107 (50) Q3/25 Q4/25 Q1/26 Q2/26 Q3/26 Reported 1.9% 4.2% 3.7% 4.1% (2.5)% Q3
Slide 13: Capital and Liquidity
Capital and Liquidity Capital and liquidity remain strong, supporting share buybacks Capital Position $B Q3/25 Q2/26 Q3/26 1 • CET1 ratio of 13.4%, down 19 bps from prior quarter Average Loans and Acceptances 576.3 597.8 608.6 1 • Bought back 7.5MM shares in the quarter Average Deposits 794.4 829.4
Slide 14: Canadian Personal & Business Banking
Canadian Personal & Business Banking Strong earnings growth supported by resilient top-line performance Q3/26 YoY Highlights: Reported Adjusted1 • Broad-based revenue growth across the portfolio of 9% demonstrates continued ($MM) Q3/26 YoY QoQ Q3/26 YoY QoQ franchise momentum Revenue 3,344 9% 5% 3,3
Slide 15: Canadian Commercial Banking & Wealth Management
Canadian Commercial Banking & Wealth Management PPPT strength reflects robust volume growth and market appreciation Reported & Adjusted1 ($MM) Q3/26 YoY QoQ Q3/26 YoY Highlights: • Broad-based client activity drove margin expansion, higher fee-based revenue, and Revenue 2,037 18% 6% increased new is
Slide 16: U.S. Commercial Banking & Wealth Management
U.S. Commercial Banking & Wealth Management Solid performance benefited from strong volumes and lower PCLs Q3/26 YoY Highlights: Reported Adjusted1 • Sustained organic momentum driving revenue growth (US$MM) Q3/26 YoY QoQ Q3/26 YoY QoQ • Revenue up 7% YoY, driven by strong balance sheet growth and b
Slide 17: Capital Markets
Capital Markets Revenue growth fueled by client activity in Global Markets Q3/26 YoY Highlights: Reported & Adjusted1 ($MM) Q3/26 YoY QoQ • Client momentum across the franchise, supported by constructive markets, Revenue 1,834 22% (2)% contributed to 22% revenue growth Non-Trading Net Interest Incom
Slide 18: Corporate & Other
Corporate & Other Q3/26 YoY Highlights: Reported Adjusted1 • Revenue up due to investment losses in International Banking in the prior year, and ($MM) Q3/26 YoY QoQ Q3/26 YoY QoQ treasury-related gains • Reported expenses up primarily due to the $269MM charge related to our announced Revenue 290 116
Slide 19: Driving Sustainable Growth and Value for Our Stakeholders
Driving Sustainable Growth and Value for Our Stakeholders Sustained earnings Performance reinforces Strong balance sheet momentum through our confidence in the and capital strength disciplined execution long-term earnings provide strategic and a connected power and profitability flexibility and incr
Slide 20: Risk Overview
Risk Overview Frank Guse Senior Executive Vice-President & Chief Risk Officer
Slide 21: Allowance for Credit Losses
Allowance for Credit Losses Allowance for credit losses was up QoQ Allowance for Credit Losses ($MM) – Q3/26 Movements 396 216 4,983 4,870 4,588 ( 48 ) ( 451 ) Impaired Provisions $612MM Q3/25 Allowance Q2/26 Allowance Performing Retail Business and Net write-offs and Q3/26 Allowance Provisions Gove
Slide 22: PCL on Impaired Loans
PCL on Impaired Loans Total Bank impaired PCL ratio1 was up QoQ Total Bank ($MM, bps) Canadian Personal & Business Banking ($MM, bps) F26 YTD 37bps 800 38 40 50 700 48 46 60 700 33 40 600 43 50 • Canadian Commercial impaired PCL was 600 40 elevated, reflecting a small number of 30 500 500 30 idiosyn
Slide 23: Credit Performance – Gross Impaired Loans
Credit Performance – Gross Impaired Loans Gross impaired loan ratio remained stable QoQ • Gross impaired loan ratio was stable, with an increase in Canadian Gross Impaired Loan Ratios Q3/25 Q2/26 Q3/26 residential mortgages offset by decreases in Canadian personal lending, and 1 Canadian Residential
Slide 24: Canadian Consumer Lending
Canadian Consumer Lending Net write-offs and delinquencies were up YoY Net Write-offs: • Overall consumer net write-off rates were down QoQ, but remained up YoY due to Reported Net Write-offs Q3/25 Q2/26 Q3/26 unemployment impacts and continuing macroeconomic uncertainty Canadian Residential Mortgag
Slide 25: In Closing
In Closing Credit performance Proactive risk Disciplined allowance remains resilient management and early approach positions us despite isolated losses client outreach continue to well for ongoing in select segments support portfolio economic volatility performance Third Quarter 2026 | 24
Slide 26: Appendix
Appendix CIBC®
Slide 27: AI @ CIBC
AI @ CIBC Generating outcomes through improved client experience, team productivity, defensive capabilities, and an empowered workforce Revenue Generation Operational Risk Cultural & Client Experience Efficiency Mitigation Transformation • Timely and actionable • Client meeting preparation • Enhance
Slide 28: Digital Trends
Digital Trends Growing digital adoption and engagement in Canadian Personal Banking1 DIGITAL ADOPTION RATE2 ACTIVE DIGITAL BANKING USERS3 DIGITAL CHANNEL USAGE (MM) (# of Sessions, MM) 87.9% 88.4% 88.8% 88.5% 90.0% 8.2 8.5 8.0 8.1 8.1 430 425 424 419 422 Q3/25 Q4/25 Q1/26 Q2/26 Q3/26 Q3/25 Q4/25 Q1/
Slide 29: Canadian Personal & Commercial Banking
Canadian Personal & Commercial Banking1 Continued margin expansion driven by rates and business mix tailwinds REVENUE YIELD METRICS ($MM) Net Interest Margin3 Mortgage Portfolio Spreads4 4,028 3,902 4,096 3,740 3,882 696 649 668 Q3/26 mortgage 659 668 revenue as % of total 3.01% 3.04% P&C revenue 9%
Slide 30: Wealth Management
Wealth Management1 Strong markets and net sales drove asset growth REVENUE1 ASSETS UNDER ADMINISTRATION2 (C$MM) (C$B) Canada U.S +20% +21% 1,431 1,403 1,505 84 34 670 1,250 1,356 552 Q3/25 Q4/25 Q1/26 Q2/26 Q3/26 % of Total Bank 17% 18% 17% 18% 18% Q3/25 Market Net Sales Q3/26 Appreciation NET INCOM
Slide 31: Balance Sheet
Balance Sheet Strong growth in loans and deposits; yields stable AVERAGE ASSETS ($B) & YIELDS1,2,3 AVERAGE LIABILITIES AND EQUITY ($B), & COSTS1,4,5 3.14% 3.07% 4.72% 4.66% 4.42% 4.46% 4.49% 2.81% 2.79% 2.85% 1,190 1,190 1,155 1,162 1,155 1,162 1,103 1,119 1,103 1,119 67 65 66 62 64 268 265 263 253
Slide 32: Funding & Liquidity
Funding & Liquidity A well-diversified, high-quality, client-driven balance sheet • Liquidity and funding position continue to remain well-above regulatory requirements • Client deposits are the primary source of funding, comprising over $500B of the total funding base • Funding strategy is suppleme
Slide 33: Interest Rate Sensitivity
Interest Rate Sensitivity Effective interest rate risk management NET INTEREST INCOME SENSITIVITY TO A +/- 100 BPS CHANGE1 INTEREST RATE ENVIRONMENT2 ($MM) 5YR CAD Swap – Average (%) 5.0 Long-Term vs. Short-Term Rates 4.0 Impact by Currency 3.0 2.0 1.0 177 177 0.0 Q3/26 Q3/27 Q3/28 Q3/29 Q3/30 Q3/31
Slide 34: Provision for Credit Losses (PCL)
Provision for Credit Losses (PCL) PCL trended lower QoQ Provision for Credit Losses lower QoQ ($MM) Q3/25 Q2/26 Q3/26 • Impaired provision was up in Q3/26 due to higher provisions in Canadian Cdn. Personal & Business Banking 444 474 427 Commercial Banking & Wealth Management and Capital Markets Impa
Slide 35: Allowance Coverage
Allowance Coverage Allowance coverage trended higher both QoQ and YoY Total Allowance Coverage Ratio up QoQ and YoY • QoQ allowance increase is largely attributable to increased provisions on impaired Total Allowance Coverage Q3/25 Q2/26 Q3/26 loans in business and government loans Canadian Credit C
Slide 36: Canadian Real Estate Secured Personal Lending
Canadian Real Estate Secured Personal Lending Mortgage delinquencies performing in line with expectations • Portfolio average Loan-To-Value (LTV) ratio continues to remain healthy • Condominium mortgages account for 17% of our total residential mortgage portfolio, with a 16% insured mix. This segmen
Slide 37: Canadian Mortgages Renewal Profile – FY26 and FY27 Outlook
Canadian Mortgages Renewal Profile – FY26 and FY27 Outlook Impacts of payment increases at renewal expected to be minimal Current Balances by Renewal Quarter1 ($B) 22 Variable Rate 20 36% 17 Fixed Rate • Using illustrative 4.0% and 4.5% 16 13 47% 30% mortgage rates at time of renewal, 53% and no bor
Slide 38: Canadian Uninsured Residential Mortgages
Canadian Uninsured Residential Mortgages Credit bureau score1 and LTV2 distributions remain healthy Credit Bureau Score1 Distribution 65% 59% 60% 60% 18% 16% 17% 17% 12% 10% 11% 12% 5% 4% 6% 5% 6% 5% 6% 6% ≤650 651-700 701-750 751-800 >800 3 3 Canada Total GVA GTA Canada Variable Rate Loan-to-Value
Slide 39: Canadian Uninsured Residential Mortgages – Q3/26 Originations
Canadian Uninsured Residential Mortgages – Q3/26 Originations1 Credit quality of new originations continues to remain high • Originations of $13B in Q3/26 • Average LTV2 in Canada: 67%, GVA3: 64%, GTA3: 67% Credit Bureau Score4 Distribution 54% 56% 55% 52% 22% 22% 23% 24% 15% 15% 14% 16% 7% 6% 6% 7%
Slide 40: Loan Portfolio is Highly Diversified
Loan Portfolio is Highly Diversified Lending portfolio has a strong risk profile and is well diversified Q3/26 Overall Loan Mix (Net • Exposure most sensitive to tariffs represents less than 1% of our total bank loans Outstanding Loans and Acceptances) 47% Consumer 59% Real Estate Business & Spotlig
Slide 41: Commercial Real Estate
Commercial Real Estate Commercial real estate loans outstanding are well diversified Multi-Family Portfolio Metrics Canada US • Canada represents 64% of total Canadian & U.S. real estate loans outstanding Total outstanding ($B) C$13.6 US$5.4 • Gross impaired loans as a percentage of total Canadian &
Slide 42: Trading Revenue Distribution
Trading Revenue Distribution Robust trading performance in recent volatile market ($MM) ($MM) 40 40 30 30 20 20 10 10 0 0 (10) (10) (20) May-26 Jun-26 Jul-26 (20) Trading Revenue VaR Third Quarter 2026 | 41
Slide 43: Forward Looking Information
Forward Looking Information Variables used to estimate our Expected Credit Losses1 Forward-Looking Information Variables Avg. Value over the Avg. Value over the Avg. Value over the Avg. Value over the Avg. Value over the Avg. Value over the next 12 months remaining forecast next 12 months remaining
Slide 44: Items of Note
Items of Note Period Q3/26 Line Item Reporting Segments Pre-Tax After-Tax & EPS Effect NCI Effect Effect ($MM) ($MM) ($/Share) U.S. Commercial Banking and Wealth Amortization of acquisition-related intangible assets 2 1 0.00 Revenue Management Canadian Personal and Business Banking Amortization of a
Slide 45: Glossary
Glossary Definition Net Interest Margin on Average Interest-Earning Assets Net interest margin on average interest-earning assets (excluding trading) is computed using total net interest income minus trading net interest income, divided by total average 1 (Excluding Trading) interest-earning assets
Slide 46: Endnotes
Endnotes Slide 3 – CIBC Overview 1. Adjusted results are non-GAAP measures. see slide 52-53 for further details. 2. Pre-provision, pre-tax earnings (PPPT) is revenue net of non-interest expenses and is a non-GAAP measure. see slide 52-53 for further details. 3. For additional information on the comp
Slide 47: Endnotes
Endnotes Slide 8 – Financial Overview 1. Adjusted results are non-GAAP measures. see slide 52-53 for further details. 3. For additional information on the composition, see the "Glossary" section in the Q3/26 Quarterly Report to Shareholders, available on SEDAR+ at www.sedarplus.com. 4. Pre-provision
Slide 48: Endnotes
Endnotes Slide 12 - Capital and Liquidity 3. Normal Course Issuer Bid. On June 4, 2026, we announced that the Toronto Stock Exchange had accepted the notice of our intention to commence an NCIB. Purchases under this bid will be completed upon the earlier of: (i) CIBC purchasing 30 million common sha
Slide 49: Endnotes
Endnotes Slide 16 – Capital Markets 1. Adjusted results are non-GAAP measures. see slide 52-53 for further details. 2. Pre-provision, pre-tax earnings is revenue net of non-interest expenses and is a non-GAAP measure. see slide 52-53 for further details. 3. Loan amounts are before any related allowa
Slide 50: Endnotes
Endnotes Slide 27 – Digital Trends 1. Based on spot balances as at July 31 for the respective periods. 2. Digital Adoption (Penetration) Rate represents the percentage share of Digital Registered Customers who have been engaged on CIBC Online Banking and/or CIBC Mobile Banking at least once in the l
Slide 51: Endnotes
Endnotes Slide 29 – Wealth Management 1. Includes the results of Canadian Wealth Management and U.S. Private Wealth Management, excludes Imperial Service in Canadian Personal and Business Banking. 2. Assets under management (AUM) are included in assets under administration (AUA). For additional info
Slide 52: Endnotes
Endnotes Slide 36 – Canadian Mortgages Renewal Profile – FY26 and FY27 Outlook 1. Excludes third party mortgages which were not originated by CIBC. 2. Based on average original qualification rate of all cohorts. Slide 37 – Canadian Uninsured Residential Mortgages 1. Starting Q2/23, our primary credi
Slide 53: Non-GAAP Measures
Non-GAAP Measures We use a number of financial measures to assess the performance of our business lines as described below. Some measures are calculated in accordance with GAAP (IFRS), while other measures do not have a standardized meaning under GAAP, and accordingly, these measures may not be comp
Slide 54: Non-GAAP Measures
Non-GAAP Measures Definition 1 Adjusted Diluted EPS We adjust our reported diluted EPS to remove the impact of items of note, net of income taxes, to calculate the adjusted EPS. We adjust our reported net income attributable to common shareholders to remove the impact of items of note, net of income
Slide 55: Reconciliation for Non-GAAP Financial Measures
Reconciliation for Non-GAAP Financial Measures Third Quarter 2026 | 54
Slide 56: Reconciliation for Non-GAAP Financial Measures
Reconciliation for Non-GAAP Financial Measures Third Quarter 2026 | 55
Slide 57: Reconciliation for Non-GAAP Financial Measures
Reconciliation for Non-GAAP Financial Measures Third Quarter 2026 | 56
Slide 58: Reconciliation for Non-GAAP Financial Measures
Reconciliation for Non-GAAP Financial Measures Third Quarter 2026 | 57
Slide 59: Reconciliation for Non-GAAP Financial Measures
Reconciliation for Non-GAAP Financial Measures RECONCILIATION OF GAAP (REPORTED) RESULTS TO NON-GAAP (ADJUSTED) RESULTS ($ millions) Q3/26 Q2/26 Q1/26 Q4/25 Q3/25 Q2/25 Q1/25 Q4/24 Q3/24 Q2/24 Q1/24 Q4/23 Operating results - Reported Total revenue 8,368 8,006 8,398 7,576 7,254 7,022 7,281 6,617 6,60
Slide 60: Reconciliation for Non-GAAP Financial Measures
Reconciliation for Non-GAAP Financial Measures RECONCILIATION OF GAAP (REPORTED) RESULTS TO NON-GAAP (ADJUSTED) RESULTS (continued) ($ millions) Q3/26 Q2/26 Q1/26 Q4/25 Q3/25 Q2/25 Q1/25 Q4/24 Q3/24 Q2/24 Q1/24 Q4/23 Operating results - Adjusted Total revenue - adjusted 8,370 8,006 8,398 7,576 7,254